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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; Praag, Bernard M. S. van; Kuilen, Gijs … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability … individuals are found to be more risk averse, in agreement with common findings. Unlike previous studies that ascribed gender …
Persistent link: https://www.econbiz.de/10003831223
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Chapter 4. Assessment and Estimation of Risk Preferences
Holt, Charles A.; Laury, Susan K. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 135-201). 2014
menus. Applications involve using inferred risk preferences to document demographic effects, e.g. gender, and to explain the …
Persistent link: https://www.econbiz.de/10014025528
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Separating attitudes towards money from attitudes towards probabilities : stake effects and ambiguity as a test for prospect theory
Vieider, Ferdinand M.; Cingl, Lubomír; Martinsson, Peter; … - 2013
experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown … probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …
Persistent link: https://www.econbiz.de/10009792472
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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; van Praag, Bernard M. S.; van de … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability … individuals are found to be more risk averse, in agreement with common findings. Unlike previous studies that ascribed gender …
Persistent link: https://www.econbiz.de/10010276981
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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; van Praag, Bernard M. S.; van de … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability … individuals are found to be more risk averse, in agreement with common findings. Unlike previous studies that ascribed gender …
Persistent link: https://www.econbiz.de/10010277017
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Understanding the two components of risk attitudes : an experimental analysis
Qiu, Jianying; Steiger, Eva-Maria - 2009
Economics and management science share the tradition of ordering risk aversion by ï¬tting the best expected utility (EU) model with a certain utility function to individual data, and then using the utility curvature for each individual as the sole index of risk attitude. (Cumulative) Prospect...
Persistent link: https://www.econbiz.de/10003905733
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Understanding the two components of risk attitudes : an experimental analysis
Qiu, Jianying; Steiger, Eva-Maria - 2010
Cumulative Prospect Theory (PT) introduced the weighting of probabilities as an additional component to capture risk attitudes. However, this addition would be a less significant challenge to expected utility theory (EU) if utility curvature and probability weighting showed strong positive...
Persistent link: https://www.econbiz.de/10008669974
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Understanding risk attitudes in two dimensions : an experimental analysis
Qiu, Jianying; Steiger, Eva-Maria - 2009
to cognitive limitations. Our findings from a controlled laboratory experiment suggest that the two dimensions capture …
Persistent link: https://www.econbiz.de/10009734688
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Relating the two dimensions of risk attitudes : an experimental analysis
Qiu, Jianying; Steiger, Eva-Maria - 2009
towards risk, what is the relation between them? We ran a controlled laboratory experiment to answer this question. Our …
Persistent link: https://www.econbiz.de/10003803484
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Understanding risk attitudes in two dimensions : an experimental analysis
Qiu, Jianying; Steiger, Eva-Maria - 2009
Persistent link: https://www.econbiz.de/10008655976